Description: Outlines a generic business model for a life insurance company and concludes with thoughts on future trends and prospects.

Description: This article discusses how small companies, by staying simple and focused and not taking immeasurably disastrous risks, bring sanity to an insane world.

Description: Articles on IRS private letter rulings on combination products, IRS treatment of reinsurance under section 845, and IRS waivers for failed contracts under section 7702.

Description: This article examines the changes in U.S. regulatory reserve and risk-based capital requirements that will significantly impact the insurance industry and practicing actuaries. It summarizes activity related to principles-based reserves and risk-based capital initiatives during 2005.

Description: This article summarizes a recent session at an SOA meeting that presented tips on improving and speeding the product filing process.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: Summary of the upcoming activities for the Smaller Insurance Company Section in 2016.

Description: discussion of a new product idea for retirement planning which integrates a variety of needs estate death benefit, annuity income, disability income, etc. into one product

Description: Life reinsurance activity in Bermuda has experienced rapid growth in recent years. This article explores the key drivers of this growth.

Description: This article provides a short history of the correction procedures previously developed to address compliance failures and the shortcomings of those procedures under sections 101f and 7702, laying the foundation for a sea change in the correction process.